Rates Relative Value Portfolio Manager

J K Barnes is representing an established, mid-sized global hedge fund seeking an experienced Rates Relative Value Portfolio Manager.

The firm has deliberately maintained a relatively low external profile. It offers the institutional infrastructure and capital of a sophisticated global hedge fund, while retaining a more selective investment platform where successful Portfolio Managers can have genuine visibility, influence and long-term importance to the business.

This opportunity is suited to an established PM running a repeatable and predominantly market-neutral relative-value strategy across global rates.

Candidate Profile

The successful candidate should demonstrate:

• A live or recently managed Rates Relative Value strategy
• More than $20 million in annualised PnL
• A strategy focused primarily on intra-asset relative value within rates
• No more than approximately 40% of risk or returns attributable to directional positioning
• A clear and repeatable process for identifying and monetising pricing dislocations
• Strong portfolio construction, leverage, liquidity, financing and drawdown management
• Clearly defined capital requirements, capacity and scalability

The fund is interested in areas including:

• Yield-curve and butterfly strategies
• Swap-spread and basis trading
• Inflation and breakeven strategies
• Rates volatility and options-based relative value
• Relative value across closely related maturities, instruments and markets

Relevant instruments may include government bonds, interest-rate swaps, futures, options, inflation products and related rates derivatives.

The Opportunity

The successful Portfolio Manager can expect:

• A meaningful capital allocation aligned with the strategy’s capacity
• Institutional-quality execution, technology, data, financing and risk infrastructure
• Access to quantitative, engineering and operational support
• The ability to bring or build a supporting team where justified
• A more focused and influential position than is typically available within the largest multi-manager platforms

This mandate is not intended for predominantly directional global macro strategies, broad cross-asset relative value, or portfolios whose performance relies heavily on outright duration and central-bank views.

All conversations will be handled on a strictly confidential basis.